Consumer Portfolio Services (NASDAQ:CPSS) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Consumer Portfolio Services (NASDAQ:CPSS) from a buy rating to a hold rating in a research note issued to investors on Monday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded Consumer Portfolio Services from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, September 14th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Consumer Portfolio Services Trading Up 5.0%

Shares of Consumer Portfolio Services stock opened at $9.46 on Monday. The company has a current ratio of 5.67, a quick ratio of 5.67 and a debt-to-equity ratio of 10.43. Consumer Portfolio Services has a 12-month low of $7.39 and a 12-month high of $10.49. The firm has a market capitalization of $207.27 million, a price-to-earnings ratio of 10.28 and a beta of 1.14. The firm’s 50 day simple moving average is $9.33 and its two-hundred day simple moving average is $9.20.

Consumer Portfolio Services (NASDAQ:CPSS) last posted its quarterly earnings data on Tuesday, August 4th. The credit services provider reported $0.27 EPS for the quarter. The business had revenue of $57.14 million during the quarter. Consumer Portfolio Services had a net margin of 4.78% and a return on equity of 6.91%.

Insider Buying and Selling at Consumer Portfolio Services

In other news, VP Noel Jackson sold 7,500 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $9.31, for a total value of $69,825.00. Following the sale, the vice president owned 7,500 shares in the company, valued at $69,825. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles E. Bradley, Jr. sold 125,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $9.46, for a total transaction of $1,182,500.00. Following the transaction, the chief executive officer directly owned 4,099,545 shares of the company’s stock, valued at approximately $38,781,695.70. This trade represents a 2.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 137,500 shares of company stock worth $1,299,825. Company insiders own 63.80% of the company’s stock.

Institutional Investors Weigh In On Consumer Portfolio Services

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Consumer Portfolio Services during the 2nd quarter valued at about $6,297,000. Empowered Funds LLC purchased a new stake in shares of Consumer Portfolio Services in the second quarter worth about $1,456,000. Janney Montgomery Scott LLC boosted its stake in shares of Consumer Portfolio Services by 3.4% in the first quarter. Janney Montgomery Scott LLC now owns 51,003 shares of the credit services provider’s stock worth $394,000 after buying an additional 1,672 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Consumer Portfolio Services in the second quarter worth about $221,000. Finally, Deutsche Bank AG acquired a new stake in Consumer Portfolio Services during the second quarter worth about $115,000. 47.57% of the stock is owned by hedge funds and other institutional investors.

About Consumer Portfolio Services

Consumer Portfolio Services, Inc (NASDAQ: CPSS) is a specialty finance company that provides automobile financing to consumers, including borrowers who may have limited or impaired credit histories. The company primarily operates through an indirect lending model, purchasing retail installment sales contracts originated by automobile dealerships and providing financing for the purchase of new and used vehicles.

Consumer Portfolio Services funds its lending activities through a combination of debt financing and the securitization of automobile receivables.